If I have not filed my small one-person C-corporation tax since operation in 2007, how many years do I need to file to be considered current? All the income is 1099 (small insurance broker). I did not do a W2 or 1099 for myself. I am thinking of indicating that I pay myself whatever is left after all expenses. How do I account for any money taken out personally, and would it be legal to report my compensation as a dividend and pay the double corporate tax vs. W2 income to myself and be penalized for payroll tax?

May 2nd, 2023

For a US company selling through the internet, what are the sales tax obligations if it does not have an office in the state where it was incorporated, has a UPS P.O. Box in another state, or ships merchandise from a warehouse located in a third state?

June 15th, 2023

I am including an investment loss in my tax return this year. The company went bankrupt, and we lost over $37,000. I know I can report only $3,000 per year, but I am unsure how to report it. Should I record it on Form 1040, Line 20, or in Form A, Line 13, or both?

August 27th, 2024

I received a letter from the IRS stating that I don't qualify to file exempt and have instructed my employer to not accept my current W-4 or a new one that would allow them to take more money than the current status. They have my marital status as 'single' but I am married. How can I correct this and ensure my employer withholds the correct amount based on my actual marital status?

May 16th, 2024

My wife and I bought an undivided 1/8 share in a vacation/rental condo on April 1, 2011, allowing six weeks per year use or rental. We designated two weeks for the rental pool in 2011 but they were not rented. Neither of us are in the real estate business. What is deductible for our purchase costs and HOA payments in 2011?

January 7th, 2023